Aurora Innovation (NASDAQ:AUR) Sees Strong Trading Volume Following Insider Buying Activity

Key Points

• Aurora Innovation shares experienced an **84% increase** in trading volume following the purchase of **162,337 shares by Director John J. Donahoe** at an average price of $6.10, totaling approximately $990,255.70.
• Brokerages have raised their target prices for Aurora Innovation, with **Canaccord Genuity** setting a target of **$15.00** and giving the stock a **"buy" rating**; the company currently has a consensus rating of **"Moderate Buy."**
• In its latest earnings report, Aurora Innovation surpassed expectations with an **EPS of -$0.11**, compared to the consensus estimate of -$0.12, and reported revenue of **$1.00 million**, exceeding the estimate of $0.50 million.

Aurora Innovation, Inc. (NASDAQ:AUR - Get Free Report) shares saw an uptick in trading volume on Friday after an insider bought additional shares in the company. 35,431,401 shares were traded during trading, an increase of 84% from the previous session's volume of 19,294,834 shares.The stock last traded at $6.09 and had previously closed at $6.20.

Specifically, Director John J. Donahoe bought 162,337 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were bought at an average price of $6.10 per share, for a total transaction of $990,255.70. Following the transaction, the director directly owned 162,337 shares in the company, valued at approximately $990,255.70. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on AUR. Canaccord Genuity Group increased their target price on shares of Aurora Innovation from $10.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Needham & Company LLC raised their target price on Aurora Innovation from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, The Goldman Sachs Group upped their price target on Aurora Innovation from $6.00 to $7.00 and gave the stock a "neutral" rating in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $10.75.

Aurora Innovation Stock Down 1.7%

The stock has a market capitalization of $10.78 billion, a P/E ratio of -12.95 and a beta of 2.49. The firm has a fifty day moving average price of $5.71 and a two-hundred day moving average price of $6.52.

Aurora Innovation (NASDAQ:AUR - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. The business had revenue of $1.00 million during the quarter, compared to the consensus estimate of $0.50 million. Sell-side analysts anticipate that Aurora Innovation, Inc. will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Aurora Innovation

Several hedge funds and other institutional investors have recently modified their holdings of AUR. Commonwealth Equity Services LLC raised its holdings in Aurora Innovation by 131.4% in the fourth quarter. Commonwealth Equity Services LLC now owns 30,032 shares of the company's stock worth $189,000 after purchasing an additional 17,053 shares in the last quarter. LPL Financial LLC increased its holdings in shares of Aurora Innovation by 223.4% during the fourth quarter. LPL Financial LLC now owns 284,993 shares of the company's stock valued at $1,795,000 after acquiring an additional 196,870 shares in the last quarter. Arrowstreet Capital Limited Partnership purchased a new position in shares of Aurora Innovation in the 4th quarter valued at approximately $1,357,000. Franklin Resources Inc. increased its holdings in shares of Aurora Innovation by 194.5% in the fourth quarter. Franklin Resources Inc. now owns 36,378 shares of the company's stock valued at $229,000 after purchasing an additional 24,024 shares during the period. Finally, Wells Fargo & Company MN boosted its position in Aurora Innovation by 38.8% in the fourth quarter. Wells Fargo & Company MN now owns 561,721 shares of the company's stock valued at $3,539,000 after buying an additional 157,012 shares during the last quarter. 44.71% of the stock is currently owned by hedge funds and other institutional investors.

Aurora Innovation Company Profile

Aurora Innovation, Inc operates as a self-driving technology company in the United States. It focuses on developing Aurora Driver, a platform that brings a suite of self-driving hardware, software, and data services together to adapt and interoperate vehicles. The company was founded in 2017 and is headquartered in Pittsburgh, Pennsylvania.

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